As
announced on October 5, 2009 and further to the terms of the letter of intent,
the Participation Agreement enables Brownstone and Quetzal to earn a net 68.5%
(Brownstone 34.25%; Quetzal 34.25%) participating interest in the 16,470
hectare LLA 27 Block, by paying 100% (Brownstone 50%; Quetzal 50%) of the costs
associated with the work program prescribed by the Colombian Agencia Nacional
de Hidrocarburos ("ANH").

Brownstone
and Quetzal will be entitled to 90.55% (Brownstone 45.275%; Quetzal 45.275%) of
any net revenue until they have fully recouped costs spent on fulfilling the
work commitments on the LLA 27 Block, following which the parties will assume
their working interests being Brownstone 34.25%, Quetzal 34.25%, Montecz 19.5%
and NCT 12%. Work commitments over the first 36 month phase total approximately
US$6.48m and includes completion of 144km of 2D seismic and the and drilling of
an exploratory well.

Brownstone
and Quetzal have also each posted individual letters of credit with the ANH in
the amount of US$1,620,000 (US$3,240,000 in the aggregate), representing 50% of
the required work program.

The
LLA 27 Block is surrounded by producing oil and gas fields (including La Punta,
Entrerrios, Santiago and Estero), and is on strike with the La Punta Block 2244
oil field which has historic production of over 3.7 MMBO and total recoverable
field reserves estimated between 6-9 MMBO and July 2009 production rate in
excess of 3,600 BOPD of 34 degree API oil from 2 wells (Ministerio de Minas Y
Energia, Forma 9).

Having
completed the Participation Agreement on the LLA 27 Block, Brownstone and
Quetzal are optimistic that they will shortly complete similar participation
agreements for the Llanos 21 and Llanos 36 Blocks as set out in the October 5,
2009 press release.

Pending
receipt of all applicable regulatory approvals, Brownstone and Quetzal plan to
complete the payment to the assignor of the interests in the LLA 27 Block,
Fenix Energy Inc., by making payments of (1) US$150,000 and the issuance of
600,000 common shares of Brownstone for Brownstone's interest and (2) the issuance
of 3,000,000 common shares of Quetzal for Quetzal's interest, all as set forth
in the press releases of Brownstone and Quetzal dated October 5, 2009. The
Participation Agreement remains subject to the final approval of the TSX
Venture Exchange.

Brownstone
and Quetzal are also in the process of completing the registration processes
with the ANH and anticipate being able to commence the seismic program on the
LLA 27 Block early in the new year.

Quetzal also provides the following correction to its November 13,
2009 press release, noting that in connection with the private placement, the
final tranche of which was completed by Quetzal on November 13, 2009, Quetzal
has paid finder's fees in the aggregate amount of $301,443 to certain qualified
registrants assisting in the offering (representing 7% of the gross proceeds
raised by such finders), and issued an aggregate of 2,756,057 compensation
warrants ("Compensation Warrants") to such finders (representing 8% of the
aggregate number of Units sold by such finders). Each Compensation Warrant
entitles the holder to acquire one common share of Quetzal at an exercise price
of $0.125 per share for a period of two years from the date of issuance.

About
Quetzal – Quetzal Energy Inc. is a
well-financed Canadian-based, energy company with exploration and production
assets in Guatemala and interests (14-35%) in 3 Colombian blocks
in the Llanos basin.

About Brownstone – Brownstone
Ventures Inc. is a Canadian-based, energy focused investment company with
equity interests and direct interests in oil and gas exploration projects,
including working interests in almost 300,000 acres in the Piceance/Uinta
Basins of Colorado and Utah; 295km2 in the Assam/Arakan
Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in
several projects in Brazil; a 50% interest in approximately 160,000 hectares in
the Quėbec Lowlands; a 15% participating interest in two off-shore Israel oil
and gas blocks; and is earning interests (14-35%) in 3 Colombian blocks in the
Llanos basin. For additional information, please see
Brownstone's website: www.brownstoneventures.com

Forward
Looking Statements – Certain information set forth in this news release may
contain forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Brownstone and Quetzal, including, but not limited to the impact of general
economic conditions, industry conditions, volatility of commodity prices, risks
associated with oil and gas activities, currency fluctuations, dependence upon
regulatory approvals, the availability of future financing and exploration
risk. Readers are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.